Only investing when you have enormously high degree of conviction, when something have a huge margin of safety (extremely mispriced). Buying stocks at 2 times earning and sell them after they moved up 50% and buy another stock at 2 times earning was Warren Buffet early career.

Just because the market is open does not mean you have to trade. Cash is a position too.

need a good reason to buy since there seems to be lack of catalyst in property sector for the foreseeable future....buying at a significant discount at much lower p/e = margin of safety.

based on 2012 earnings, at $2.40 the p/e is 30 and at $2.00 the p/e is 25....if going forward property sales is not going to be as hot as 2012 for a few years, 2013 and 2014 earnings should be at best slightly less than 2012 earning so buying at less than $2.00 seems reasonable.

what is the p/e or quarterly earning like to justify it is cheap.

anybody know what is p/e for this stock at 2.40... is it already cheap enough to buy.